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Wang Yuejian: The Future Of Blockchain In Hangzhou Is Bright

By Jia Xiaobie & Yang Jialun
“8BTC Asks” is a video program that captures the brightest moment of blockchain entrepreneurs. Launched in March 2018. “8BTC Asks” focuses on outstanding contributors such as investment giants, entrepreneurs and geeks in the blockchain field. Original video could be found here.

On March 26, 2018, the “8BTC Asks” column made an exclusive interview with Wang Yuejian, Director of the Hangzhou Financial Office, at the second session of the Global Blockchain (Hangzhou) Summit. We have summarized the Q&A without changing the original intention of the interviewee.

Q: What is “blockchain”?

Blockchain is a technology, which might push the advancement of every industry. We (the Financial Office of Hangzhou) will focus more on the integration of financial institutes and blockchain technologies.

Q: From the “First Global Blockchain Summit” last year to the second session this year, how has the blockchain industry developed in this year?

A: When we hosted the summit last year, there weren’t many people who knew about the blockchain. This year, many people already know the concept of blockchain.
In the past year, the government’s expectation of the blockchain has been getting higher and higher, and many departments have begun planning. In addition, there are interactions between VCs and enterprises. Hangzhou proposed to build a “Global Financial Science and Technology Center”, which is determined by Hangzhou’s “differentiated and distinctive” development strategy. Because Hangzhou does not have the advantages of traditional finance, it is taking a “new financial” approach. We focus on the combination of finance and technology, making Hangzhou a global “beacon” for financial technology.

Q: Is there a timetable for Hangzhou to build a global financial technology center?

A: This is the goal and the process. We have done a research report. In the report, it is envisaged that by 2030, Hangzhou will become a renowned “global financial science and technology center.” Specific planning is still under investigation and development.

Q: What are the advantages of developing blockchain in Hangzhou?

A: Last year’s Hangzhou government report put forward nine categories of industries. Blockchain is one of the key industries. And the advantages are:
1. Strong technical foundation of internet industry.
2. Abundant talent reserves. Zhejiang University and many large companies are already training relevant professionals.
3. A good government business environment. Including “one-stop procedure fulfillment” and the emphasis on talented people. I believe that all can attract elites in the blockchain industry.
4.To create a complete industry ecosystem. Including professional media such as 8btc, Blockchain Research Institute of CBPM, Blockchain Research Institute of Zhejiang University and the Global Financial Technology Research Office have settled in Hangzhou.

Q: The serious shortage of blockchain talent is a bottleneck that hinders the development of blockchain technology. How to deal with it?

A: 1. Establish more training facilities. For example, Zhejiang University has become the major base for training blockchain talents in Hangzhou, in addition to various research institutes established by universities and companies.
2. We are investigating how to introduce financial professionals in a targeted manner;
3. Increase support for financial science and technology projects.

Q: Beijing, Shanghai, Guangzhou and Shenzhen have introduced relevant policies to attract blockchain talents. What are the special aspects of Hangzhou’s policy in this area?

A: Although it is important to attract talented people to settle in Hangzhou, it is more important to provide opportunities for the talents in the blockchain industry so that the entrepreneurs can find the necessary elements for their business. They can see the future in Hangzhou, which is the most important thing.

Q: What policies will be adopted to support blockchain companies?

A: At present we are investigating and we hope to hear more voices. At the same time, Xiaoshan District and Xihu District are already experimenting with some blockchain policies.

Q: Will there be more “blockchain summits ” in the future?

A: The “Global Blockchain (Hangzhou) Summit” last year and this year is a good opportunity. We want to make this summit a benchmark of blockchain summit in China and even around the world. It’s a platform that pushes the development of industry and technology.

Q: How confident are you in the blockchain’s future development in Hangzhou?

A: The score of confidence is 100 points. Don’t forget that our vision is to create a “Global Financial Technology Center.”

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